Australia's largest stock trading and investment forum Australia's #1 stock forum

GLN

Click for more information

0.00%

12.5¢ galan lithium limited

Thanks badatoc, truly appreciated your input. Helps me...

First 15218 Last

Share
Profile

Follow
kka4eddie

449 Posts.

24

10/05/24

12:14

Post #: 73761987
Share

Originally posted by badatoc641: ↑

Glencore buys all the chloride from phase 1 and that's locked in. Separetely, Glencore have offered to provide/facilitate the funding to complete the construction of phase 1 but we haven't heard anything else about this since it was announced. My guess is they've offered unsatisfactorily harsh terms for financing which puts Galan in a bind as they desperately need the money to finish phase 1 construction. Galan need to try and get money asap from somewhere else without being able to offer any of the product from phase 1, only phase 2 which is scheduled to happen in 2026.

Everyone's a genius in hindsight but if we didn't sign that binding offtake with Glencore, we'd be in a much better negotiating position now considering the export permit seems a sure thing and we would have had near-term chloride to offer in return. It seems quite scummy for a >100 billion market cap company like Glencore to string us along like this and let Galan go through huge dilution.

Expand

Thanks badatoc, truly appreciated your input. Helps me understand a lot more on the situation.

If GLN don't have funding to complete phase1, Glencore will not get any chloride. Whats the benefit to Glencore?

GLN Price at posting: 34.3¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

Largest drill campaign to begin: Saturn Metals at Diggers & Dealers

From the Floor with Kim Beazley at Diggers and Dealers 2024

Revolutionary inverter technology leads the clean energy charge

From the Floor with Federal Opposition Leader Peter Dutton at Diggers & Dealers 2024

Emerald & Azure score Digger & Dealer awards

There are more pages in this discussion • 457 more messages in this thread...

First 15218 Last

Add GLN (ASX) to my watchlist

(20min delay)
Last 12.5¢		Change 0.000(0.00%)		Mkt cap ! $61.71M

Open	High	Low	Value	Volume
12.5¢	13.0¢	12.0¢	$148.1K	1.187M

Buyers (Bids)

No.	Vol.	Price($)
14	736387	12.0¢

Sellers (Offers)

Price($)	Vol.	No.
13.0¢	315150	8

View Market Depth

No.	Vol.	Price($)
13	694721	0.120
9	478293	0.115
13	661490	0.110
7	717933	0.105
13	614290	0.100

Price($)	Vol.	No.
0.130	315150	8
0.135	147700	5
0.140	385000	4
0.145	40000	1
0.150	75000	2

Last trade - 16.10pm 07/08/2024 (20 minute delay)

GLN (ASX) Chart